Try our debt consolidation calculator
See what your debt consolidation loan interest rate could be when you consolidate higher-interest debt with a personal loan.
Enter your credit score, and a few details for each debt balance you hold (up to a total of x) — and we'll show you how much you might be able to save.
Here's what you told us
Your Credit
Total Debt
Average APR
Total Monthly Payments
Here's how we can help
This example maintains your current payment for s at APR with the total loan cost of .
Rates are calculated based on Discover application data as of 6/2/2025.
See if you qualify for a Personal Loan with no impact to your credit score.
Check Your RateYour APR will be between x and x APR based upon creditworthiness at time of application for amounts between $2,500-$40,000 and loan terms of x-x months. Information and interactive calculators are made available as self-help tools for your independent use and are intended for educational purposes only. Any results are estimates and we do not guarantee the applicability or accuracy to your specific circumstance. For customers with less than Good credit, a Discover personal loan may not be the right debt consolidation solution.
We're unable to provide an estimate
Based on the information you entered, consolidating debt with us may not save you money. Feel free to give us a call to speak with a dedicated loan specialist if you have additional questions or would like to explore other options.
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Need to borrow more? Discover® Home Loans offers home equity loans between $35,000 and $300,000 (2nd Lien).
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Debt consolidation loans basics
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Why consolidate debt
- We can pay many creditors directly, and you'll manage just one set regular monthly payment each month
- Save on higher-rate interest with a lower debt consolidation rate
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How debt consolidation works
- Choose your amount and term with help from the calculator above
- Apply for a debt consolidation loan at a lower interest rate
- At least 50% of the funds must go directly to creditors, many of which we can pay directly. Choose which creditors you want to pay, and the rest can go to your bank account.
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What debt consolidation means
- Combine and simplify multiple debts into one easier-to-manage loan
- Debt consolidation means fewer payments each month
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Eliminate debt faster
- Less of your money is paid toward interest, which means more money in your pocket
- Choose to pay down your principal sooner on your path to being debt-free
Frequently asked debt consolidation loan questions
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The debt consolidation calculator totals up the debts you input and, using your average interest on that debt, estimates how long it would take to pay it all off if you continue to simply make your current monthly payments. It also estimates how much you'd spend on interest if you continued to pay down your debt in this way. Then, the calculator estimates your pay-down time and total interest paid if you were to get a debt consolidation loan with the estimated rate shown for the calculation.
This helps you compare your current situation to what might happen if you consolidated your debt. Your rate may vary based on the information contained within your application. These numbers are for comparison purposes only.
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With a fixed rate loan, you could lock in an interest rate that might be lower than what you're currently paying on your outstanding balances. This means you could pay less in interest over time. Additionally, a fixed rate loan could lower your monthly payments to help you save money on interest each month, and it may help you pay down your debt faster. Read more about consolidating debt.
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Rates vary depending on the card, however, Discover personal loan rates may be lower than credit or store card rates, so by consolidating higher-rate credit card debt, you could save money on interest.
Additionally, our loans offer a fixed rate and fixed repayment term, giving you a set regular monthly payment you can budget for. You also get the benefits of having one monthly payment with a fixed rate and a clear, defined knowledge of when your loan will be paid in full.
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With a Discover personal loan, you get a fixed rate. That means you'll lock in your interest rate, so your monthly payments will remain the same for the duration of your loan, as long as you make the monthly payments on time. This is typically the key difference between a line of credit and a personal loan.
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There are no prepayment penalties on your loan. You can pay more than your regular monthly payment amount. Keep in mind, you will not receive any refund of interest charges previously incurred and paid if you pay off your loan in full early.
Generally, payments will be first applied to any accrued and unpaid interest, then toward the principal balance. If you have a balance of late fees, part of your payment may be applied to them after you have satisfied your New Amount Due and any Amount Past Due.
